India's tea imports dipped by almost 18% in April-May this year to 2.31 million kg, Tea Board data shows. The country had imported 2.81 million kg of tea in April-May, 2010, the data said.
India, the world's largest consumer of tea, imports the beverage only to re-export it to other countries. The dip in imports thus signals less re-exports. While imports from Argentina, Kenya and Sri Lanka increased in April-May, in-bound shipments from Vietnam, Malawi, Indonesia, Nepal and China declined in the same period. In the January-May period of the current calender year, imports of the brew fell by almost 17% to 6.54 million kg from 7.84 million kg in the same period of the previous year. India, the second biggest producer of tea in the world, accounts for about 28% of global tea production and 14% of trade. There are about 1,600 tea estates in India. The industry employs more than two million people. Tea production in January-May, 201, stood at 243.61 million kg, while output in the year-ago period was 234.93 million kg.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!